India to Drive 35% of Global Energy Demand Growth in Next Two Decades, Says Petroleum Minister Puri

India's Projected Energy Demand Growth

India is poised to play a crucial role in the global energy sector, with Petroleum Minister Hardeep Singh Puri announcing that the country will contribute to 35% of the world's energy demand growth over the next two decades. This significant projection was made during Puri's address at the Gastech conference in Singapore, emphasizing India's expanding influence in the international energy landscape 1

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India's Energy Consumption and Economic Growth

The minister highlighted India's current position as the world's third-largest energy consumer, with a daily consumption of about 5 million barrels of oil. This substantial energy use is intrinsically linked to India's robust economic growth, which Puri projects to continue at a rate of 6.5% to 7% in the coming years 2

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Diversification of Energy Sources

In response to the growing energy demands, India is actively pursuing a diversified energy mix. Puri emphasized the country's commitment to expanding its natural gas infrastructure, aiming to increase the share of natural gas in the energy mix from the current 6.3% to 15% by 2030. This strategy aligns with global efforts to transition towards cleaner energy sources 3

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Investment in Energy Infrastructure

To support its ambitious energy goals, India is making substantial investments in its energy infrastructure. The government plans to spend $67 billion on gas infrastructure alone, which includes expanding the natural gas pipeline network to 34,500 km and increasing the number of compressed natural gas stations for vehicles 1

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Global Energy Partnerships

Puri emphasized the importance of international cooperation in meeting India's energy needs. He highlighted ongoing discussions with global energy suppliers, including the United States, to secure long-term energy partnerships. These collaborations are crucial for ensuring a stable and diverse energy supply to fuel India's growing economy 2

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Balancing Growth and Sustainability

While focusing on meeting the rising energy demand, India is also committed to its climate goals. The country aims to achieve net-zero emissions by 2070 and is working towards reducing its carbon footprint. This balance between growth and sustainability presents both challenges and opportunities for India's energy sector in the coming decades 3

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